Engineering group GKN has announced it closed its two UK defined benefit (DB) schemes to future accrual on 1 July, after falls in bond yields increased liabilities in 2016.
Its half-yearly report published today, the firm also revealed the total accounting deficit for these schemes, called GKN 2 and GKN 3, decreased slightly to £1.1bn on 30 June from £1.2bn on 31 Dece...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders